A fixer-upper requires significant time and effort to renovate. While the DIY route might seem like the best way to save money, it isn't always the most affordable option. There are other issues like time and logistics to consider. If you're thinking about buying a fixer-upper, here are the biggest things to consider:
The major drawback to fixer-uppers is the time and effort they require. Even for DIY masters, an entire list of home improvements adds up to a significant undertaking. Some tasks might be simple and inexpensive, like painting or installing tile. Others, like plumbing overhauls or installing new HVAC systems will require more time and labor.
Unfortunately, fixer-uppers often come with unexpected costs beyond what you budget for. Even with the unpleasant surprises, you may end up spending more than you budgeted for on renovations. Every construction project inevitably runs into delays or issues with materials—these issues can add up quickly and add monetary stress to the situation. If you hire professionals to help you with the bigger projects, their labor will factor in as well.
As with all renovation projects, there are bound to be timeline issues. Delays in getting materials, poor weather and any other myriad obstacles can stretch out a quick project into a month-long process. If you're doing the work yourself, you'll also need to consider your own energy levels and life balance. After all, you need to make time to eat and sleep! Balancing DIY renovations with jobs, social or household obligations and your own peace of mind may factor in to your timeline. Unfortunately, these issues are some of the hardest to plan for.
Fixer-uppers can be a ton of work, but they can be very rewarding. Whether you plan to live in the improved home or flip it for profit, you can get even more out of it than the work you put in.
Meet Norma, a trusted realtor in Middle Tennessee. With over 20 years of experience living in Smyrna with her husband and two children, she has a deep understanding of the local community. Norma's background in customer service and the medical field has given her the skills to provide excellent care and service to her clients, no matter the price point of their home.
With a passion for service and a commitment to professionalism, Norma strives to make each client's experience smooth and memorable. As a real estate agent, her first priority is education, as she listens to her clients' needs and wants and uses her skills and 10+ years of experience to deliver a stress-free and enjoyable home buying or selling experience.
Norma is dedicated to making a life-changing difference in her clients' lives and is committed to providing the highest level of service. Let Norma help you navigate the exciting journey of buying or selling your home.
